House Prices Increase in June

The Land Registry has revealed that house prices in England and Wales are now on par with the levels seen in the summer of 2006.

The average home in the UK will now set buyers back £166,072 after a small 0.1% increase from May to June.   The year on year rise against June 2009 stands at a much higher 8.4%, marking the eighth consecutive monthly rise.

The Land Registry's survey is widely regarded as the most authoritative, although it only covers England and Wales.  It is now expected that house prices are going to stay fairly static for the remainder of the year.  

The survey also showed that every single region in England and Wales saw an average rise in property prices during the 12 months to the end of June.

The smallest of which was seen in the North East of England, rising 0.7%, meanwhile the best increase was seen in London at 12.2%.

The small rise in the North East was reflected by the month on month results, the average price say a decrease of 1.3% between May and June.  The region seeing the best month on month results was Wales, recording a 2.9% ascent.

Over the past 12 months, semi-detached homes have seen a better rise than any other type of property, recording a 9.6% increase, closely followed by detached house at 9%.  Meanwhile, the value of flats saw an 8% rise.

Posted at 12:47PM Jul 28, 2010 by Marc Stenton in Mortgages & Housing Market  |  Comments[0]